Earnings ·
Lakeland Industries reported fiscal second quarter results ending July 31, 2026, with net sales of $50.1 million, a…
LAKELakeland Industries Inc
Lakeland Industries reported fiscal second quarter results ending July 31, 2026, with net sales of $50.1 million, a 4.5% year-over-year decline but a 5.7% sequential increase from the prior quarter. Gross margin expanded to 37.0%, up from 35.9% in the prior-year period and 31.4% in Q1, driven by favorable product mix and $1.4 million in tariff refunds. Adjusted EBITDA excluding foreign exchange more than doubled sequentially to $2.7 million, while GAAP net loss widened to $4.9 million due to a $3.2 million non-cash goodwill impairment charge related to LHD Germany and $1.3 million in currency losses. Fire revenue grew 12% sequentially to $26.1 million, representing 52% of total sales, supported by strong demand for helmets and hoods. The company secured notifications for a UK National Fire Chiefs Council tender with potential value up to £220 million over seven years. Inventory decreased $15.3 million year-over-year to $74.9 million, and operating cash flow improved $15.1 million to $5.4 million year-to-date. Lakeland Industries is a global manufacturer of protective clothing and apparel for industry, healthcare, and first responders.